Benjamin F. Edwards & Company Inc. Has $2.87 Million Stock Holdings in Lancaster Colony Co. (NASDAQ:LANC)

Benjamin F. Edwards & Company Inc. boosted its holdings in shares of Lancaster Colony Co. (NASDAQ:LANC) by 0.6% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 15,179 shares of the company’s stock after buying an additional 87 shares during the period. Benjamin F. Edwards & Company Inc.’s holdings in Lancaster Colony were worth $2,868,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. SG Americas Securities LLC acquired a new position in Lancaster Colony during the second quarter worth $1,528,000. Capstone Investment Advisors LLC bought a new stake in shares of Lancaster Colony in the 1st quarter worth $864,000. Susquehanna Fundamental Investments LLC bought a new stake in shares of Lancaster Colony in the 1st quarter worth $868,000. Foguth Wealth Management LLC. bought a new stake in shares of Lancaster Colony in the 1st quarter worth $862,000. Finally, Leeward Investments LLC MA grew its stake in shares of Lancaster Colony by 5.6% in the 2nd quarter. Leeward Investments LLC MA now owns 51,981 shares of the company’s stock worth $9,823,000 after acquiring an additional 2,771 shares in the last quarter. Institutional investors and hedge funds own 66.44% of the company’s stock.

Wall Street Analysts Forecast Growth

LANC has been the subject of several recent analyst reports. Benchmark reiterated a “hold” rating on shares of Lancaster Colony in a research note on Wednesday. StockNews.com lowered shares of Lancaster Colony from a “buy” rating to a “hold” rating in a research report on Friday, August 23rd. Loop Capital reduced their price target on shares of Lancaster Colony from $236.00 to $232.00 and set a “buy” rating for the company in a research report on Monday, August 26th. Finally, Stephens reduced their price target on shares of Lancaster Colony from $205.00 to $200.00 and set an “equal weight” rating for the company in a research report on Friday, August 23rd. Five investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $195.75.

Lancaster Colony Stock Up 0.4 %

Shares of NASDAQ:LANC opened at $181.80 on Friday. The firm has a market capitalization of $5.00 billion, a PE ratio of 37.72 and a beta of 0.35. Lancaster Colony Co. has a twelve month low of $160.01 and a twelve month high of $215.31. The company has a 50-day moving average price of $183.90 and a two-hundred day moving average price of $189.72.

Lancaster Colony (NASDAQ:LANC) last issued its earnings results on Thursday, August 22nd. The company reported $1.35 earnings per share for the quarter, missing analysts’ consensus estimates of $1.41 by ($0.06). Lancaster Colony had a return on equity of 19.61% and a net margin of 8.47%. The business had revenue of $452.83 million for the quarter, compared to the consensus estimate of $462.70 million. Analysts anticipate that Lancaster Colony Co. will post 6.96 earnings per share for the current fiscal year.

Lancaster Colony Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 9th will be issued a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a dividend yield of 1.98%. The ex-dividend date of this dividend is Monday, September 9th. Lancaster Colony’s payout ratio is 74.69%.

Insider Transactions at Lancaster Colony

In other news, Director Elliot K. Fullen purchased 3,000 shares of the stock in a transaction dated Tuesday, August 27th. The shares were purchased at an average cost of $169.00 per share, with a total value of $507,000.00. Following the completion of the acquisition, the director now owns 5,298 shares in the company, valued at approximately $895,362. The transaction was disclosed in a document filed with the SEC, which is available at this link. Insiders own 29.60% of the company’s stock.

Lancaster Colony Company Profile

Lancaster Colony Corporation engages in the manufacturing and marketing of specialty food products for the retail and foodservice channels in the United States. It operates in two segments, Retail and Foodservice. The company offers frozen garlic bread under the New York BRAND Bakery; frozen Parkerhouse style yeast and dinner rolls under the Sister Schubert's brand; salad dressings under the Marzetti, Simply Dressed, Cardini's, and Girard's brands; vegetable and fruit dips under the Marzetti brand; croutons and salad toppings under the New York BRAND Bakery, Chatham Village, and Marzetti brands; and frozen pasta under the Marzetti Frozen Pasta brand.